AT&T was able to clear out its stock of the HTC First smartphone -- dubbed the Facebook phone -- but mentioned that this isn't a sign of the device's success.

AT&T Mobility CEO Ralph de la Vega said the HTC First was slow-moving when it launched, but after a hefty price cut, consumers flocked to the phone and managed to clean out AT&T's remaining inventory.

"We sold a bunch more when we lowered the price," said De la Vega. "We sold everything we had on that."

The HTC First, which was released in April of this year, received a serious price cut just one month after its debut at AT&T. It went from $99 with a two-year contract to 99 cents, and the off-contract price dropped from $450 to $350.

De la Vega went on to compare the HTC First to the Motorola Rokr, which was the first phone to officially interface with Apple's iTunes software. The Rokr series lasted from 2005 to about 2009, but wasn't very popular during its time. But while the Apple-backed phone wasn't a huge success, Apple went on to release one of the most popular smartphones today -- the iPhone.

De la Vega said the HTC First may not be a great success either, but since social giant Facebook backs it, a better version could arise in the future.

"We have a great relationship with Apple just like we have a great relationship with Facebook," said De la Vega. "We look forward to working with them to make Home better."

The HTC First features a 4.3-inch 720p SLCD3 display, a Snapdragon 400 1.5 GHz dual-core processor from Qualcomm, Inc., LTE compatibility, 1 GB memory, a 5-megapixel rear camera and a 1.6 megapixel front camera. It is available in black, white, red and blue and is exclusive to AT&T.

HTC's "First" smartphone was released as a Facebook-heavy, social smartphone. While it runs the Android operating system, a main feature was the integrated Facebook Home software -- which puts Facebook notifications and updates at the forefront.